Netflix Shares Dip After Verizon Announces Disney+ Partnership

T-Mobile has been touting its "Netflix on Us" campaign in nearly all of its advertisements over the past few months, and for good reason. It's a great promotion when you think about just how many people use Netflix on a regular basis. However, rivals to both Netflix and T-Mobile announced a new partnership on Tuesday morning that has one of these companies already taking a hit. Verizon is offering a free one-year subscription to Disney's upcoming streaming service, Disney+, to all users with an unlimited data plan. Within hours of the announcement there was a dip in Netflix shares.

According to Deadline, Netflix shares dropped 3% on Tuesday morning after the news of the Verizon/Disney+ arrived. This sort of dip is nothing new for Netflix when it comes to Disney+ news. The streaming leader took a major hit earlier this year when the $6.99 Disney+ price point was first revealed.

With the new partnership between Disney and Verizon, all mobile subscribers with unlimited data plans will have the opportunity to sign up for a year's worth of Disney+. There has been no word yet as to how the sign ups will work, but you can head here to give Verizon your email address and be on the list for email updates. The free service will become available when Disney+ launches on November 12th.

“The launch of Disney+ kicks off a new era of streaming for The Walt Disney Company, bringing nearly a century’s worth of content from our iconic studios to consumers directly,” said Kevin Mayer, chairman of Disney’s Direct-to-Consumer & International segment. “We’re excited to share this moment with Verizon and bring Disney+ to the millions of customers across its award-winning wireless network.”

“Giving Verizon customers an unprecedented offer and access to Disney+ on the platform of their choice is yet another example of our commitment to provide the best premium content available through key partnerships on behalf of our customers," added Verizon chief Hans Vestberg.

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